Broker Option

THIS ANNOUNCEMENT, (INCLUDING THE APPENDICES) AND THE TERMS AND CONDITIONS SET OUT HEREIN (TOGETHER, THIS "ANNOUNCEMENT")  AND THE INFORMATION CONTAINED THEREIN, IS RESTRICTED AND  IS NOT FOR PUBLICATION, RELEASE,  DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART,   TO ANY US PERSONS OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN ANY JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

21 March 2022

MYCELX Technologies Corporation

("MYCELX" or the "Company")

Broker Option

MYCELX Technologies Corporation (AIM: MYX), the clean water and clean air technology company, is pleased to announce that further to the announcement of the Proposed Placing and Subscription on 11 March 2022, the Broker Option has been exercised in respect of 155,000 new Common Shares (the "Broker Option Shares"), raising additional gross proceeds of $101,500 (c £77,500) for the Company.

The Broker Option Shares will be issued at a price of 50 pence per new Common Share (being the Issue Price) and on the same terms and conditions as the Placing, including the fact that they are to be issued  into the new restricted line of Common Shares under the symbol MYXR. 

With the exercise of the Broker Option and the admission of the Placing and Subscription to trading on AIM, this results in a total gross fundraise of $2.31million (c.£1.77 million*) for the Company; comprising the Placing and Subscription raising c.$2.21 million (c.£1.69 million*) (before expenses), and the Broker Option raising $101,500 (c.£77,500*).

Admission and dealings

Application will be made to the London Stock Exchange for the 155,000 Broker Option Shares to be admitted to trading on AIM (the "Further Admission"). Admission of the Placing and Subscription became effective on 21 March 2022, the Broker Option Shares are expected to become effective and dealings commence at 8.00 a.m. on or around 25 March 2022.

The new Common Shares to be issued in connection with the Placing and Subscription and the Broker Option, when issued, rank pari passu with the existing Common Shares, including the right to receive future dividends.

Upon the Further Admission, the new Common Shares issued pursuant to the Broker Option will also trade in the Company's new restricted line of Common Shares under the symbol MYXR, and the new Common Shares, as represented by depositary interests ("Depository Interests"), will be held in the CREST system and will be segregated into a separate trading system within CREST identified with the marker "REG S" and USU624551235.

Total Voting Rights

Following the Further Admission, and as a result of the Broker Option being partially exercised, the total number of Common Shares in the Company with voting rights is expected to be 22,983,023.

Terms and definitions used in this announcement shall have the same meaning as ascribed to them in the Company's announcements dated 11 March 2022 regarding the Proposed Placing and Subscription unless otherwise stated.

*Exchange rate of GBP: USD 1.31

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